Residential builders in Sydney are constantly looking for ways to increase the value of their homes. One of the most popular ways to do this is by adding home extensions.
Since we have different types of home extensions to choose from to increase your home value, it's therefore essential to know the one that will give you the biggest ROI. In this article, you will discover the benefits of home extensions and how you can use a home extension to increase the value of your home.
How Does a Home Extension Add Value to Your Home
It Attracts Potential Buyers
If you're thinking of selling your property, then you must find a way to make it appealing to buyers. With the number of homes for sale, buyers are looking for something unique. An extension to your home will make it stand out attractively. Potential buyers will see it as an investment and will be willing to pay for it.
It Improves its Appearance
The style of your home determines how an extension will improve its appearance. So if you have a traditional home or a contemporary one, there are specific kinds of extensions you can go for. In case you are not sure of what style you have, you can talk to a professional. This professional contractor will inspect your home and make customized designs that will fit in with your home's structure.
More Is Better
The more rooms and space you have in your home, the better for you. If you choose to live in your home, you enjoy the freedom of space. You also have enough room for keeping your properties. If and when you eventually decide to sell or rent your home, you'll also enjoy the monetary value that comes with having more rooms. Either way, more is better!
If you've always loved the idea of designing your space, then an extension will give you that opportunity. There's little you can do with an already-built house. However, there are various designs you can add to your new addition. A home extension will help you make your dream home come true. It also allows you to modernize your home. You can convert a traditional building to a contemporary one by adding a simple extension with modern designs.
Best Extensions For Increasing House Value
An additional bedroom can increase the value of your home by 20%. The higher the number of rooms, the higher its resale value. You can also rent the extra room and make money. Or turn the extra bedroom into an office. This helps you to make more money from the profits you generate from the business.
If you want to see a return on investment as soon as possible, then a loft conversion is the way to go. It gives a quick and better ROI. A loft conversion can increase the value of your home by 15%. You can also increase the floor space area by using the loft conversion to create a master bedroom with dormer windows.
An additional bathroom can increase your home value by about 5%. The value may vary depending on the design. Although its value may be low, an extra bathroom is one of the major things potential buyers look out for in a home. No one wants to get late to work because the bathroom was busy.
Larger Living Space
Everyone loves a living room that can comfortably accommodate members of the family and visitors. The space should be large and bright. Visitors should feel comfortable when they visit you. A larger living space can increase your home value by 10%.
With the idea of a separate dining room becoming outdated, the need for a bigger Kitchen is becoming more popular.
The value a kitchen extension will be adding to your home depends on the size of the existing kitchen. If you're going from a small size to a larger size, you may have an increased value of about 15-20%.
Ways To Build An Extension
Choose The Best Time of the Year
Before you start an extension, you should consider the weather. This will help you avoid spending unnecessarily. Bad weather can drastically increase the amount of money you spend on your extension. A simple design can become complicated if done at the wrong time. Generally, it's best to consider the dry season for your home extensions.
Choose a Simple Design
The essence of a home extension is to increase the value of your home. Therefore, you have to keep the costs of the extension as low as possible. You can achieve this by choosing simple designs. Instead of corners and curves, choose simple, straight and cost-effective designs. The more complicated the design, the more you spend on specialists.
Manage the Project Yourself
The higher the number of laborers you hire, the more you may eventually. By managing the project yourself, you can save extra costs. While this may be time-consuming and stressful, the goal of increasing the value of your home will be achieved. If you have the time, confidence, and management skills, then you're good to go.
Consider DIY Projects
When building a home extension, some projects have to be done by experts. However, other projects can be done with little or no expertise. To save costs, you can consider doing the less-skilled jobs yourself. For example, you can remove old fittings yourself instead of hiring someone else. You can also choose DIY floorings like luxury vinyl.
When you're building an extension, you must comply with the building relations and planning permission that applies in your state. This will save you from additional costs due to violation. While the initial costs of an extension may be high, with the above guide, you will eventually reap the rewards abundantly. You can also learn more about home additions and speak to construction experts by visiting; https://www.konnectbuilding.com.au/.
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